Call Us: (800) 419-4923
 Call Us: +44 (0)20 3865 7701
 Call Us: (787) 822-8377
 Call Us: (437) 855-4925
Partner Engineering and Science, Inc.
You are here: Home » Resources » Articles » How to Navigate Due Diligence When Your Lender Is “To Be Determined”

March 27, 2018

How to Navigate Due Diligence When Your Lender Is “To Be Determined”

By Frank S. Romeo, Jr.

“LENDER TBD” DUE DILIGENCE ASSESSMENTS DON’T HAVE TO BE COMPLEX

For many commercial real estate transactions, the source of funds drives the nature and extent of due diligence required. From financial institutions, to banks, to construction lenders to agencies, different stakeholders must balance the need to stay competitive with the necessity to manage risk and make sound business decisions. Risk tolerances and underwriting requirements vary from lender to lender and often from lending program to lending program. While Freddie and Fannie have some similarities, they differ and considerations within in both differ greatly from HUD. A correspondent may be looking to source through a balance sheet lender, CMBS or a life company all of which have a different approach to risk, not only from lender to lender, but from platform to platform. One of the opportunities we have as experienced consultants is in guiding our clients towards minimizing risk through appropriate due diligence and saving them headaches in the process.

Often, clients engage us seeking due diligence for projects and portfolios where a lender is yet to be identified. The client is in the process of entertaining several possible sources, isn’t sure which way their financing will go, but wants to produce environmental assessment and physical building assessment reports that encompass a broad range of due diligence requirements.

Continue reading the GlobeSt blog here.

About the Authors

Frank S. Romeo, Jr.

Frank S. Romeo, Jr.

President
Frank S. Romeo, Jr. is a respected leader in the commercial real estate due diligence industry thanks to his deep knowledge of his clients’ business goals and perspectives as well as his technical environmental and engineering matters. A New Jersey native and President of Partner Engineering and Science, Inc., Mr. Romeo manages sixteen national client managers and all technical project managers on the east coast, which includes Partner’s offices in Boston, New York, New Jersey, Philadelphia, Baltimore, Charlotte, and Rocky Hill, CT. He heads up Partner Engineering and Science’s East Coast Operations. He has managed thousands of commercial real estate projects and successfully led Partner’s expansion into the engineering design space. He was named as one of Real Estate Forum Magazine’s Forty Under 40 in 2012. Mr. Romeo has performed and managed well over 5,000 environmental site assessments for residential, commercial and industrial properties throughout the United States and internationally. He was a Client Manager at a national due diligence firm where he managed over $25M worth of due diligence projects over his five-year tenure. He was instrumental in several of Partner’s key acquisitions, including LandAmerica Assessment Corporation, Continental Surveying, and Birdsall Services Group, all of which have served as pivotal to Partner’s growth.

Other Resources You Might Like


Let us be your Partner

Learn how we can support your next project or share insights via our newsletter.
crossmenuarrow-up linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram